Tata Group Company’s adjusted profit after tax increased 2 per cent at Rs 317 crore on YoY basis. Its operational revenue grew 8 per cent at Rs 2,759 crore against Rs 2,555 crore in the corresponding quarter of previous fiscal.
The management said the overall operational efficiency continues to grow and the performance was on expected lines across all geographies except a few obstacles in the UK operations. The Indian Chemicals business registered a robust performance. US has delivered better results than the same period last year and Kenya exhibited a positive momentum.
“The company is showing signs of revival and we expect operational performance to pick up from FY20 onwards. However, earnings growth is expected to remain muted in FY20 owing to higher tax rate and lower other income,” analysts at Motilal Oswal Securities said in result update. The brokerage firm maintains ‘buy’ rating on the stock with target price of Rs 703 per share.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in